Contingent Valuation: A review with Emphasis on Estimation Procedures
by Jubin Antony and Aruna Rao .
Contingent valuation (CV) is a method to appraise the benefits
a society receives from public goods. CV surveys have become a popular
way of estimating monetary value on non-marketed goods. CV method first
came into use in the early 1960ís (Davis, 1963). A large number of
research studies have used CV to estimate the value of investment
projects aimed at the welfare of society. In this article we discuss the
methodological developments in CV through an extensive literature survey.
We also discuss the results of our simulation studies to compare the
single and double bound estimation procedures.
Contingent Valuation, Willingness to pay, dichotomous choice,
maximum likelihood estimation, double bound models
Jubin Antony, firstname.lastname@example.org
Aruna Rao, email@example.com
Ahmed H. Youssef, firstname.lastname@example.org
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